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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Nov 19, 1939
Page
23
U S industry runs near peak output through early 1940 with orders holding. analysts note a strong two month rise in production, led by steel mills at high capacity, railcar demand. consumer buying remains solid amid rising jobs and farm prices.
A Washington roundtable of 200 construction leaders foresees a rosy 10 to 12 billion dollar annual industry if the United States remains out of war. Analysts project growth in commercial manufacturing and residential sectors, with inflation containment a key aim.
A team of volunteer auditors checks pledge cards for proper completion as Cedar Rapids conducts its Community Chest drive. The group, pictured with names including Seated Mrs. T. M. Ingersoll and Leonard Schoon, ensures accuracy before deposits are made by Robert Rogers.
A week of permit activity records numerous projects: new dwellings for H J Bjornsen at 653 Thirty third Street NE valued 3300 and Paul Hruska at 512 Gwendolyn Drive SE valued 3600. remodeled and reroofed homes include addresses such as 235 Nineteenth Street NW 1225 and 1807 N Street SW 300 with various sums. commercial remodels noted for The Auditorium Company at 121-129 First Street NE 200 and Joe Hadsell at 401 Avenue NW 100. miscellaneous structures upgraded or relocated including a shed relocation at 2957 Center Point Road NE 25 and a garage addition at 191 Nine ce Avenue SW not specified.
Markets firm and dull with bonds irregular. U S government bonds higher while curb stocks and Chicago stocks show irregular movement. Foreign exchange about steady against the dollar. Cotton futures steady. Gains in Chicago. Wheat up about 0.36 to a cent and corn up around half a cent. Rubber futures firm.
A calm week on New York markets saw aviation shares ease while merchandising, copper, utilities and rail equipment gained interest at weekend trading. Analysts expect favorable dividend actions next week and a market stimulus to support immediate purchases. The list highlights Curtiss Wright, United Airlines, U S Steel, General Motors, Commonweal Edison, Greyhound, General Electric, New York Central, Pennsylvania R A, Aviation Corp among 12 active issues.
The Cedar Rapids Chamber of Commerce reports October activity remained high with 249 building permits valued at 177 856 dollars. Real estate transfers fell to 206 while inbound carloadings rose to 4 227 and outbound cars declined to 3 652. Bank clearings and debits increased, telephones rose, electricity dipped slightly, gas usage rose, employment eased to 5 228, and new car and truck sales climbed to 184 and 28 respectively. Post office receipts also rose to 50 124 52 dollars.
Linn County Abstract Co reports conveyances and mortgages for Nov 10 to Nov 16. 43 conveyances and 27 mortgages were recorded totaling 575 007 dollars in mortgages and 61 conveyances and 25 mortgages totaling 77 107 50 dollars in aggregate mortgage figures.
Neisner Brothers adds a modern shoe repair department with new machinery and comfortable waiting booths. Local craftsmen now employed, per manager Irwin Friedman of the 5 cent to $1 store in New York.
Quotations show ranges for recent transactions not firm bids. Entities include Central States Power Co Interstate Power Co Town Public Service Co Southern Utilities Iowa Southern Utilities Northern 040 license news and various stock listings. Read note to write financial editor in Cedar Rapids Iowa for interest.
Cedar Rapids markets list butterfat prices and poultry rates for hens and roosters by weight, plus fruits vegetables and staples with varied per unit costs. The Mississippi River stages update Davenport Keokuk, and bond market notes highlight modest gains in U.S. government and foreign issues with mixed corporate moves.
Market notes show limited activity with scattered price changes across grains and staples. Traders monitor early week signals in Winnipeg as futures and cash markets reflect cautious demand amid uneven supply.
A garbled item references Produce Futures with names like Eamson Bred and Co and a date around January. It mentions ore prices or standards and a general market note without clear details or complete entities.
Improvements totaling several thousand dollars were completed last week with new store fronts in Manchester and a meat market expansion on East Main Street. Hagensick Drugs plans a move and new front next spring in Elkader. Decorah plans modernization of Larsen Clothing store with new front and heating. Manchester also sees new offices and a bungalow construction on West Butler Street. Independence sees Sanitary Meat Market purchase by Art Polen. Brooklyn high school addition funding boosted to 39,015 for equipment and auditorium gym.
Minneapolis cash grain prices show gains and declines across corn oats and wheat. Prices include No 1 dark northern and hard Montana varieties with protein and moisture notes, No 3 yellow corn values and oat and barley figures for delivery.
The New York stock market rose slightly on a quiet Saturday with small price changes and a 280000 share turnover. Allied Chemical Flintkote Monsanto led gains while Chrysler and General Motors rose near a point. Copper stocks advanced on French copper purchases and rail and chemical sectors showed mixed to firm activity.
Wheat rose on the Chicago board after a narrow range session but faded gains as sales reduced the advance. Soybeans surged to near two year highs on strong export demand and cash market strength, while corn oats rye and other grains showed modest moves. Dec wheat closed up while nearby corn fell slightly. weather and drought conditions were cited as the main influence on price direction.
Copper steady at 12.50 with spot and nearby tin at 5150 to 4350 nom. Lead steady at 55 5075.55, zinc steady at 6.50, quicksilver 1736.00. Aluminum antimony platinum wolframite and scherlite unchanged. East St Louis figures listed for spot and forward.
For the fifteenth straight week Cedar Rapids banks reported continued gains in clearings. The Clearing House said $1,484,691.99 cleared during the week, up from $1,381,268.37 for the week ending Nov 19, 1938, and $1,308,518.24 for the week ending Nov 11.
Chicago grain quotations furnished by Lamson Brothers and Co. H R Mowrey manages Cedar Rapids office at 503 Merchant National Bank building. Phone 2 3141.
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